Romero Rainey: ICBA letter to Trump administration key to reform push

ICBA’s recent letter urging the Trump administration to advance several needed reforms is essential to supporting community banks while avoiding unintended consequences, ICBA President and CEO Rebeca Romero Rainey said this week.

Message: In a message to community bankers, Romero Rainey said the first month of the new Trump administration and 119th Congress have brought a flurry of policy activity that aligns with ICBA’s “Repair, Reform, and Thrive” advocacy framework. But while Washington is responding to ICBA’s calls for much-needed policy change, some reform efforts could have unintended consequences for community banks without key changes, she said.

Letter to OMB: In Friday’s letter to Office of Management and Budget Director Russell Vought—who is also serving as acting director of the CFPB—ICBA called on the administration to:

• Fast-track repeals of harmful and burdensome rules and reissue tiered and rightsized regulations.

• Ensure meaningful community bank representation in supervision and oversight.

• Advance a level regulatory playing field for institutions that pose the highest risk to economic stability.